Tags Business Accounting and Bookkeeping

Animals & Plants Arts & Entertainment Auto Beauty & Health Books and Literature Business Electronics Engineering & Technology Food & Drink History Hobbies Jobs & Education Law & Government Math People & Society Science Social Studies Sports Travel & Places

0

Subjects>Business>Accounting

Is Creditors an asset or liability?

Updated: 9/27/2023

Wiki User

∙ 6y ago

Best Answer

Current Liability

Reynold Kuphal ∙

Lvl 10

∙ 2y ago

This answer is:

More answers

Wiki User

∙ 11y ago

Liability

This answer is:

Add your answer:

Earn +20 pts

Q: Is Creditors an asset or liability?

Write your answer...

Submit

Still have questions?

imp

Continue Learning about Accounting

Is creditors a asset or liability?

creditor is a liabiliity

Is a trade debtors asset or liability?

yes It is an Asset, not a Liability.

Is rent income a asset liability or owners equity?

asset liability

What is creditors for good assets or liability?

Liability

Is equipment an asset or liability?

Asset

Related questions

Is creditors a asset or liability?

creditor is a liabiliity

Why creditors are laibility?

Any money you owe to someone else is a liability to you and an asset for them. You have to pay (liability) and they get to receive (asset).

Transaction that will decrese an asset anf decrease a liability?

Payment to the creditors Creditors Decrease Bank balance decrease

What is net liability?

Asset - Liability = Net Asset / Liability * Net Asset - When Asset is more than Liability * Net Liability - When Liability is more than Asset

Is checking your account an asset or a liabilities?

Checking your account can be considered an asset as it represents the funds you have available for use. However, it can also be seen as a liability if your account has a negative balance or if you owe money to the bank or other creditors.

Is a trade debtors asset or liability?

yes It is an Asset, not a Liability.

Is asset or liability?

asset

Is rent income a asset liability or owners equity?

asset liability

What is creditors for good assets or liability?

Liability

Is equipment an asset or liability?

Asset

Is premises a asset or liability?

asset

Is equipment liability or asset?

Asset

Trending Questions

The primary purpose of accounting is to? Is rent expense deductible with the IRS? How do I calculate percentage of lost income? What type of account is the sundry creditors? What is the routing number for bank of America in Baltimore Maryland? When will Tyson put w2 online? Explain difference between fixed and flexible budget? A heavy tree trunk can be sawed into a 12ft long piece in 1 min. How long would it take to saw it into 12 pieces? What the disadvantage of computerized system? What is the yearly tax for 15000? What is computer ledger? Is it true you are responsible for correcting any errors on your credit report? Where is the bank located that uses the routing 541210032? Why is cash flow planning important for a business? What is the net pay of 2800.00 gross? What goes on a owners equity sheet? Is good will current or non current asset? What is the cost of workstations? Discuss why overhead costing methods using plant-wide overhead rate or departmental overhead rates are no longer adequate for costing products and sevrices in other companies? What type of company use fifo?

Still have questions?

imp

Previously Viewed

Is Creditors an asset or liability?

Resources

Top Categories

Product

Company

Copyright ©2024 Infospace Holdings LLC, A System1 Company. All Rights Reserved. The material on this site can not be reproduced, distributed, transmitted, cached or otherwise used, except with prior written permission of Answers.